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Black Hills BKH Return on invested capital

Return on invested capital at other companies

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5.6%+0.3pp
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5.7%+0.2pp
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ExelonEXC
5.8%-0.2pp

Other financials

Income statement

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Revenue$780.7M-3.0%
Operating income$201.9M-1.5%
Net income$131.0M-2.5%
EPS (diluted)$1.73-7.5%

Balance sheet

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Cash & equivalents$23.6M+258%
Total debt$4.2B+5.8%
Total equity$3.9B+8.5%
Total assets$10.8B+7.5%

Cash flow

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Operating cash flow$176.2M-22.7%
CapEx$267.4M+74.9%
Free cash flow-$91.2M-222%

Valuation

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Market cap$5.54B+20.7%
Enterprise value$9.76B+13.4%
P/E19.2×+2.8×
P/S2.4×+0.3×

Profitability

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Operating margin23.4%+0.1pp
Net margin12.6%-0.1pp
FCF margin-13.7%-14.0pp

Returns & leverage

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Return on equity7.6%-0.4pp
Debt / equity1.1×0.0×
Current ratio0.6×-0.1×

Where this comes from

Calculated from Black Hills’s reported figures.

Based on trailing twelve months.

The official record: Black Hills’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Black Hills's return on invested capital?
Black Hills (BKH) reported return on invested capital of 5.9% in Q1 2026.
How has Black Hills's return on invested capital changed year-over-year?
Black Hills's return on invested capital decreased by 5.1% year-over-year, from 6.2% to 5.9%.
What is the long-term trend for Black Hills's return on invested capital?
Over 5 years (2020 to 2025), Black Hills's return on invested capital has grown at a -1.4% compound annual growth rate (CAGR), from 6.2% to 5.8%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.